Needham Bank (FDIC certificate 26483) was established in 1892 and operates through 8 branch offices located in MA. Mr. Mark Whalen, President & COO of Needham Bank, leads a team of 182 employees.
Needham Bank, headquartered in Needham, MA, is rated five stars for financial strength by BauerFinancial, Inc., the nation’s leading bank rating firm. As a general rule, a five star rating indicates, among other things, that Needham Bank has at least twice the capital that regulators require, is profitable (or operating with a very small loss) and has kept its delinquent loans in check.
Needham Bank is a state chartered commercial bank and member of Federal Reserve. With $2 billion in total assets, the FED classifies the bank’s asset concentration as "Commercial Lenders" which is defined as institutions whose commercial and industrial loans, plus real estate construction and development loans, plus loans secured by commercial real estate properties exceed 25 percent of total assets.